The document is a daily analysis report from TP Global FX that provides: - Commentary on movements in major currency pairs and gold during the Asian trading session. - Key headlines from Biden, the ECB, BOJ, and Fed officials impacting markets. - Technical analysis and trade ideas for several currency pairs and gold based on 1-hour charts. - A look ahead at important upcoming economic data releases.

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11 May 2022
Daily Analysis Report

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Asian Bulle n: U.S. dollar strengthened sharply during early U.S. session a er various comments released by Fed officials, Asian stock markets mixed, gold hovers around $1,838 mark ahead of
U.S. CPI data
Key Headlines:
• U.S. President Biden - Infla on is my top domes c priority.
• U.S. President Biden - Taking infla on very seriously, making it top domes c priority; causes pandemic, supply challenges, Russia war on Ukraine.
• U.S. President Biden - Fed plays a primary role in figh ng infla on.
• U.S. President Biden - Historic infla on occurring all over the world.
• U.S. President Biden - Boos ng global supply will cut gasoline prices.
• ECB’s Nagel backs first interest-rate hike in July.
• ECB's Nagel - ECB should raise interest rates in July if incoming data confirm that infla on is too high.
• ECB's Nagel - ECB should end asset purchase programme at end of June.
• ECB's Nagel - Risk of ac ng too late is "Increasing Notably".
• BOJ's bond buying draws scru ny a er ex-PM calls Central Bank a Govt 'subsidiary – Sources.
• Fed’s Mester - We don't rule out 75 bp increases forever.
• Fed's Mester - The pace we are going right now seems about right.
• Fed's Mester - Our aim is to use tools to get demand in be er alignment with supply.
• Fed's Mester - I don't want to rule anything out on rate increases for second half of the year.
• Fed's Mester - Given infla on, I think we'll have to move above neutral, not clear how far.
• U.S. Treasury Sec Yellen - Russia clearly in recession; infla on probably 20%.
• Fed’s Williams - 50bp rate hikes at next two mee ngs 'makes sense' as base case.
• The head of the World Health Organiza on said on Tuesday China's zero-tolerance COVID-19 policy is not sustainable given what is now known of the virus, in rare public comments
by the U.N. agency on a government's handling of the pandemic – Reuters.
• Pfizer Inc said on Tuesday it will pay $11.6 billion to buy Biohaven Pharmaceu cal Holding Co , making a big bet on its ability to boost sales of the top-selling pill in a new class of
migraine drug – Reuters.
• The World Health Organiza on's European chief said on Tuesday that at least 3,000 people had died in Ukraine since Russia's invasion in February because they had been unable to
access treatments for chronic diseases – Reuters.
• Vaccine developer BioNTech completed a Phase II clinical trial of its COVID-19 vaccine in China in January but has yet to release its results, a registry of such trials showed on Tuesday
– Reuters.
• Members of the World Health Organiza on's European region passed a resolu on on Tuesday that could result in the closure of Russia's regional office and the suspension of
mee ngs in the country in response to its invasion of Ukraine – Reuters.
• Crypto assets bled nearly $800 billion in market value over the past month, touching a low of $1.4 trillion on Tuesday, according to data site CoinMarketCap, as the end of easy
monetary policy diminishes appe te for risk assets – Reuters.
• Goldman Sachs has appointed banker E.G. Morse as a co-head of its China business and to lead the bank's China global markets business, according to a memo seen by Reuters –
Reuters.
• Commodity currencies Norwegian crown and the Australian dollar recovered some ground on Tuesday a er hi ng their lowest levels in nearly two years against the U.S. dollar,
tracking a rebound in European and Chinese stock markets – Reuters.
• The U.S. Securi es and Exchange Commission (SEC) on Monday extended un l June 17 the period for public comment on its landmark proposal to require U.S.-listed companies to
disclose a range of climate-related risks and greenhouse gas emissions – Reuters.
• Polish Prime Minister Mateusz Morawiecki said on Tuesday he would discuss global corporate tax with United States Treasury Secretary Janet Yellen when she visits Poland on
Saturday – Reuters.
Key Economic Indicators Ahead:
• (0600 GMT/1130 IST) German Final CPI, previous 0.8, expected 0.8.
• (1230 GMT/1800 IST) U.S. CPI m/m, previous 1.2, expected 0.2.
• (1230 GMT/1800 IST) U.S. Core CPI, previous 0.3, expected 0.4.
• (1800 GMT/2330 IST) U.S. Federal Budget balance, previous -192.7B, expected 218.5B.
Economic Events Ahead:
• (0800 GMT/1330 IST) ECB President Lagarde Speaks.
Major FX Pair Trend:
USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.07% to 103.85 points.

3. AUD / USD
BUY SELL
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Technical Summary
Trend Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
0.6974
R2 S2
0.6999
R3 S3
0.7015
R4
Commentary
S4
0.7040
Buy Above 0.6970
0.7001
0.6932
– Take Profit
– Stop Loss
Trade Idea
Sell Below 0.6930
0.6901
0.6956
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
AUD/USD: The Aussie trades marginally higher on Wednesday and hovers around $0.6950 mark.
Today pair made intraday high at $0.6961 and low at $0.6929 mark. A day chart and H1 chart with
triple EMA suggest down trend for the time being. A sustained close above $0.6974 on H1 chart
requires for the upside rally. Alternatively, a consistent close below $0.6920 will check further
supports.
0.6920
0.6901
0.6876
0.6850
MAY,
2022

4. BUY SELL
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Technical Summary H 1
FIBO Levels PIVOT
R1 S1
1.0590
R2 S2
1.0622
R3 S3
1.0640
R4
Commentary
S4
1.0676
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-
Time Frame: H1
EUR/USD: The euro trades almost flat on Wednesday ahead of ECB President Lagarde’s speech
and consolidates around $1.0540 mark. The pair made intraday high at $1.0538 and low at $1.0525
mark. Today triple EMA on a day chart and H1 chart suggest bearish trend for the time being. A
consistent close above $1.0550 on H1 chart requires for the upside rally. Alternatively, a sustained
close below $1.0525 on H1 chart will check further supports.
EUR / USD
1.0550
1.0518
1.0490
1.0465
Buy Above 1.0550
1.0580
1.0524
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.0525
1.0500
1.0555
– Take Profit
– Stop Loss
Trade Idea
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
2022

5. BUY SELL
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Technical Summary
H 1
FIBO Levels PIVOT
R1 S1
1.2350
R2 S2
1.2372
R3 S3
1.2405
R4
Commentary
S4
1.2426
Buy Above 1.2351
1.2382
1.2320
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2298
1.2272
1.2330
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
GBP/USD: The sterling exhibits range bound movement and remains well supported above $1.2300
mark. Today pair made intraday high at $1.2340 and low at $1.2304 mark. A day chart and H1 chart
with triple EMA suggest bearish trend for the time being. A sustained close above $1.2350 on H1
chart will check key resistances. Alternatively, a consistent close below $1.2300 will check further
supports.
USD
1.2300
1.2278
1.2255
1.2208
GBP/
Trends Down Trend
Moving Average (Period=75) Below MA
RSI (Period=26) Below RSI LEVEL 50
MAY,
2022

6. BUY SELL
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Technical Summary
Trends Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1.3032
R2 S2
1.3067
R3 S3
1.3098
R4
Commentary
S4
1.3122
Buy Above 1.3038
1.3072
1.3010
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1.2990
1.2960
1.3021
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/CAD: The CAD trades slightly higher on Wednesday and trading around 1.3010 mark. Today the
pair made intraday high at 1.3034 and low at 1.3004 mark. Today a day chart and H1 chart with triple
EMAsuggest bullish trend for the time being.Asustained close above 1.3032 on H1 chart requires for
the upside rally.Alternatively, a consistent close below 1.2987 on H1 chart will check key supports too.
USD /CAD
1.2987
1.2955
1.2920
1.2901
MAY,
2022

7. BUY SELL
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Technical Summary
Trend Down Trend
Moving Average (Period=75) Below MA
H 1
RSI (Period=26) Below RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
130.58
R2 S2
130.76
R3 S3
130.99
R4
Commentary
S4
131.24
Buy Above 130.55
130.89
130.18
– Take Profit
– Stop Loss
Trade Idea
Sell Below 130.15
129.72
130.40
– Take Profit
– Stop Loss
Trade Idea
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-
Time Frame: H1
USD/JPY: The Japanese yen trades almost flat on Wednesday and consolidates around 130.30
mark. The pair made intraday high at 130.46 and low at 130.22 mark. The triple EMAon a day chart is
up and H1 chart suggests down trend for the time being. A sustained close above 130.53 on H1 chart
requires for the upside rally. Alternatively, a consistent close below 129.96 on H1 chart will check
further key supports.
USD /JPY
130.21
129.96
129.78
129.55
MAY,
2022

8. BUY SELL
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Technical Summary
Trend Up Trend
Moving Average (Period=75) Above MA
H 1
RSI (Period=26) Above RSI LEVEL 50
FIBO Levels PIVOT
R1 S1
1844
R2 S2
1849
R3 S3
1854
R4
Commentary
S4
1860
Buy Above 1842
1848
1835
– Take Profit
– Stop Loss
Trade Idea
Sell Below 1831
1824
1838
– Take Profit
– Stop Loss
Trade Idea
+1 7754 366 970
analysis@tpglobalfx.com
-
Time Frame: H1
XAU/USD (GOLD): Gold depreciated sharply in previous after various comments released by FOMC
members, U.S. President Biden and U.S. Treasury Sec Yellen. Today pair made intraday high at
$1,840 and low at $1,832 mark. A day chart and H1 chart with triple EMA suggest down trend for the
time being. A sustained close above $1,842 on H1 chart requires for the upside rally. Alternatively, a
consistent close below $1,832 on H1 chart will test further supports. U.S. CPI, Core CPI data will
remain in focus for the day.
XAU [GOLD]
USD
/
1832
1826
1821
1815
MAY,
2022

9. Thank
you!
Info@tpglobalfx.com
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